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Housing loan

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Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2017 Sir
Maine Ek home purchase kiya hai aur Mai Uska emi payment bhi kar raha hu. My question is can I claim housing loan principal amount us 80c and interest under section 24b.but abhi Mujhe possession nahi Mila hai.
Please reply. Aur Mai claim kab kar sakta hu.
Please help regarding this matter

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

11 October 2017 interest on home loan for a property under construction (where completion certificate not issued) cannot be claimed. Interest, till the last date of previous year in which the property is completed, will be capitalized and will be available in next 5 assessment years as deduction against Income from house property

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

11 October 2017 Deduction on Principal repayment is also not allowed before completion of construction of the property.

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